According to a new ICEA report, India is poised to achieve an impressive $10 billion worth of smartphone exports in the current fiscal year.
This is due to the government’s attractive incentives for local manufacturing. The smartphone industry in India is thriving as a result, with companies like Samsung, Apple, and Xiaomi ramping up production in the country.
India’s ‘Make in India’ Smartphones Dominate Exports
Apple’s ‘Make in India’ smartphones have taken the lead in exports, constituting 50% of total exports, according to the India Cellular and Electronics Association (ICEA). Samsung follows with 40% of mobile exports, while other smartphone players hold 10% of the export share.
India’s smartphone exports have doubled from the previous fiscal year, thanks to production-linked incentive (PLI) schemes. As per ICEA data, UAE, US, Netherlands, UK, and Italy are the top 5 destinations for Indian mobile phone exports.
Apple Shifts Manufacturing to India and Vietnam
Apple is set to move some of its China manufacturing to India and Vietnam within the next few years. By 2027, it’s predicted that India will produce 45-50% of Apple’s iPhones, putting it on par with China, where 80-85% of iPhones were produced in 2022.
According to DigiTimes research analysts, India and Vietnam are expected to be the biggest beneficiaries of smartphone supply chain migration out of China, with India currently accounting for 10-15% of overall iPhone production capacity as of the end of 2022.
Apple Takes the Lead in India’s Smartphone Export Market
Apple has set a new record in India by becoming the first smartphone company to export $1 billion worth of iPhones in the month of December. The tech giant currently manufactures iPhones 12, 13, 14 and 14 Plus in India, which is largely export-focused and led by the government’s performance-linked scheme (PLI) push.
According to Mohindroo, Chairman of ICEA, the government is also working to strengthen the electronic manufacturing ecosystem beyond mobiles to boost its global share in hearables and wearables, IT hardware and electronic components. With this move, India is positioning itself as a major player in the global electronics market.
On the announcement, Pankaj Mohindroo, Chairman of ICEA, told NAIJAONPOINT,
Efficacy and maturity of an industry is only judged with robust exports. Mobile phones policy and outreach initiatives have been relentless and the results are in front of us. The mobile phone industry will cross $40 billion manufacturing output and 25 per cent exports at $10 billion is a stellar performance.